How Does Globalization Affect Canada
How has globalization influenced Canada's economy and cultural development?
Trev Lau - Milliken Mills High School, York Region District School Board
Globalization allows international companies free access to any country's marketplace. Countries like Canada pursue globalization because they want their businesses to have open access to other countries' marketplaces and be able to sell to more customers. In turn, Canada must open access to their markets. Reducing trade restrictions such as imported taxes (known as tariffs) allows for the transfer of goods, services, and investments to be free across national borders.
Canada, United States and Mexico already have an agreement through NAFTA (North American Free Trade Agreement). The importance of globalization, however, is free trade throughout the world. Goods, services and investments move freely to find the most competitive environment so that customers and investors benefit. This kind of environment depends on several factors such as labor costs, government regulations like environmental controls on manufacturing, and the value of a nation's currency. These factors can either raise or
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